Guideline Value for PARAMESWARI GARDEN

Parameswari Garden guideline value

The current guideline value of Parameswari Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. It is located in Chemmancheri village under the Neelankarai SRO, classified as Residential Class IV Type - II.

How the guideline value of Parameswari Garden has changed

The guideline value for Parameswari Garden has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,000 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,100 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value of Parameswari Garden is below this median.

• Parthasarathi Garden: Rs 1,700 per sq.ft (2024)
• Panchayat Union School Street & Road: Rs 2,800 per sq.ft (2024)
• Panchayat Office Road: Rs 2,800 per sq.ft (2024)
• Panchayat Office Cross Street: Rs 2,800 per sq.ft (2024)
• Pallavaraja Garden: Rs 3,300 per sq.ft (2024)
• Pazha Thotta Salai (Fruits Garden Street): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Parameswari Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parameswari Garden?

The Sub Registrar Office that covers Parameswari Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Chemmancheri

The guideline value is a crucial factor in the registration process when buying or selling property in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Parameswari Garden?

The current guideline value of Parameswari Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Parameswari Garden?

Parameswari Garden is classified as Residential Class IV Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Parameswari Garden?

The Neelankarai Sub Registrar Office covers Parameswari Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Chennai registration zone.

How is stamp duty calculated for properties in Parameswari Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 77,000 at 7%.